A survey of credit card holders revealed that Americans carried an average credit card balance of $3900 in 1995 and $3300 in 1994 (U.S. News & World Report, January 1, 1996). Suppose that these averages are based on random samples of 400 credit card holders in 1995 and 450 credit card holders in 1994 and that the population standard deviations o
A survey of credit card holders revealed that Americans carried an average credit card balance of $3900 in 1995 and $3300 in 1994 (U.S. News & World Report, January 1, 1996). Suppose that these averages are based on random samples of 400 credit card holders in 1995 and 450 credit card holders in 1994 and that the population standard deviations o
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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A survey of credit card holders revealed that Americans carried an average credit card balance of $3900 in 1995 and $3300 in 1994 (U.S. News & World Report, January 1, 1996). Suppose that these averages are based on random samples of 400 credit card holders in 1995 and 450 credit card holders in 1994 and that the population standard deviations of the balances were $880 in 1995 and $810 in 1994. Construct a 95% confidence interval for the difference between the mean credit card balances for all credit card holders in 1995 and 1994.
a. ($285.81, $414.19)
b. ($435.81, $700.19)
c. ($845.81, $9984.19)
d. ($485.81, $714.19)
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